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Product Overview
E-commerce that crosses international borders is known as cross-border e-commerce. It entails the purchase and sale of goods through online stores across national and international borders. The transaction is between a corporation, a store, or a brand and a customer. Cross-border e-commerce is a modern form of international business operation that involves a transaction organization that is shared by two or more countries. It can conduct business using an e-commerce platform and distribute goods using cross-border logistics. It can be inferred from the definition of cross-border e-commerce that it is close to conventional international trade but yet has its own distinct position. It has global, anonymity, immediacy, paperless, and rapid evolution characteristics. In a nutshell, cross-border e-commerce is the introduction of network transactions of foreign trade through the use of e-commerce on an international scale. Cross-border e-commerce, which is based on modern Internet information technology, conducts paperless transactions, breaks downtime and space barriers, and broadens the growth networks of businesses.
Market Highlights
Global Cross-Border B2C E-Commerce Market is expected to project a notable CAGR of 24.9% in 2030.
Global Cross-Border B2C E-Commerce Market to surpass USD 5,143 billion by 2030 from USD 792.5 billion in 2020 at a CAGR of 24.9% in the coming years, i.e., 2021-30. This growth is anticipated due to rising social relationships among various countries, increasing mergers and acquisitions across various sectors which will create a worldwide demand for Cross-Border B2C E-Commerce. The growth of online stores is also propelling the selling of high-end products. E-commerce allows the simple purchasing of goods manufactured in remote locations. This, in turn, has made a major contribution to the development of the Global Cross-Border B2C E-Commerce Market industry.
Global Cross-Border B2C E-Commerce Market: Segments
Apparel & Accessories segment to grow with the highest CAGR during 2020-30
Global Cross-Border B2C E-Commerce Market is segmented by category into Entertainment & Education, Apparel & Accessories, Consumer Electronics, Home Furnishing, Personal Care & Beauty, Healthcare & Nutrition, Footwear, Food & Beverage and Others. Apparel & Accessories segment held the largest market share in the year 2020 over the forecast period, owing to the extensive use of cross-border B2C e-commerce in this field.
Digital wallets segment to grow with the highest CAGR during 2020-30
Global Cross-Border B2C E-Commerce Market is segmented by payment method into Digital Wallets, Credit and Debit Cards, Internet Banking, and Others. In the forecast period; the digital wallets payment category is projected to expand at the fastest pace due to maximum utilization.
Assorted brands segment to grow with the highest CAGR during 2020-30
Global Cross-Border B2C E-Commerce Market is segmented by category into offering into In-house brands and Assorted brands. Assorted brands segment held the largest market share in the year 2020 due to high demand.
Market Dynamics
Drivers
Lower prices and greater product choice as well as technology diffusion
Lower prices and greater product choice are the key drivers of the online shopping trend from the consumer's viewpoint. Furthermore, as E-Commerce companies and distribution providers develop their logistics capacities, customers will be able to collect their international online orders quicker, reducing some of the major barriers to cross-border shopping. Through the rapid and widespread diffusion of technology, globalization has increased the volume and variety of cross-border transactions in services and goods. The Global Cross-Border B2C E-Commerce Market industry dynamics have been driven by this.
Reduction of administrative costs and expanding international business market
New e-commerce systems reduce marketing as well as administrative costs. This helps businesses to reach out to customers that are geographically scattered which have also boosted the target market. Nonetheless, the international business market is being expanded by fast-paced internet innovations. Over the projected era, this is expected to generate lucrative growth opportunities.
Restraint
Consumer data and rising production cost
Customer data, on the other hand, belongs to the marketplace, which could serve as a restraint over the forecast period. Rising production costs for the market are having a negative effect on the Global Cross-Border B2C E-Commerce Market industry.
Global Cross-Border B2C E-Commerce Market: Key Players
AirBridgeCargo Airlines
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
eBay
AliExpress.com
ASOS
ACES
BigCommerce
Jagged Peak
Amazon.com
Pitney Bowes
Other Prominent Players
Global Cross-Border B2C E-Commerce Market: Regions
Global Cross-Border B2C E-Commerce Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa.
Global Cross-Border B2C E-Commerce Market in Europe held the largest market share in the year 2020 in terms of revenue. To gain a competitive edge, businesses distinguish their products in terms of offerings, size, content, packaging, and design. Companies are now using digital and social media ads to warn customers of new product releases. The product demand is being driven by a rise in understanding of best suits as use, changes in working millennial' lifestyles, increased income to invest in best available goods and an obsession with maintaining a well-groomed structure. Consumers are likely to spend money on new goods in the near future. To meet a broader customer base, foreign companies are opening stores in the city.
Global Cross-Border B2C E-Commerce Market is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - Mexico, Argentina, Brazil, and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - North Africa, Israel, GCC, South Africa, and Rest of MENA
Global Cross-Border B2C E-Commerce Market report also contains analysis on:
Cross-Border B2C E-Commerce Segments:
By Category
Entertainment & Education
Apparel & Accessories
Consumer Electronics
Home Furnishing
Personal Care & Beauty
Healthcare & Nutrition
Footwear
Food & Beverage
Others
By Payment channel
Digital Wallets
Credit and Debit Cards
Internet Banking
Others
By Offering
In-House Brands
Assorted Brands
By End-user
Adults
Teenagers
Senior Citizens
Others
Cross-Border B2C E-Commerce Market Dynamics
Cross-Border B2C E-Commerce Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints
Global Cross-Border B2C E-Commerce Market Report Scope and Segmentation
Frequently Asked Questions
How big is the Global Cross-Border B2C E-Commerce market?
What is the Global Cross-Border B2C E-Commerce market growth?
Which segment accounted for the largest Global Cross-Border B2C E-Commerce market share?
Who are the key players in the Global Cross-Border B2C E-Commerce market?
What are the factors driving the Global Cross-Border B2C E-Commerce market?